8-K

California Water Service Group (CWT)

8-K 2022-07-27 For: 2022-07-27
View Original
Added on April 08, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13or 15(d) of The Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 27, 2022

CALIFORNIA WATER SERVICE GROUP

(Exact name of Registrant as Specified in its Charter)

Delaware<br><br>(State or other jurisdiction<br> of incorporation) 1-13883<br><br>(Commission file number) 77-0448994<br><br>(I.R.S. Employer<br> Identification Number)
1720 North First Street<br>San Jose, California<br><br>(Address of principal executive offices) 95112<br><br>(Zip Code)
--- ---

(408) 367-8200

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act<br>(17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act<br>(17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Shares, par value $0.01 CWT New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01. Other Events

On July 27, 2022, California Water Service Group issued a press release (a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference) announcing the declaration of a quarterly dividend of $0.25 per common share will be payable on August 19, 2022 to stockholders of record on August 8, 2022.

Item 9.01. Financial Statements and Exhibits.

We hereby furnish the following exhibit with this report:

Exhibit No. Description
99.1 Press Release issued July 27, 2022
104 Cover Page Interactive Data File, formatted in INline XBRL and included as Exhibit 101.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CALIFORNIA WATER SERVICE GROUP
Date: July 27, 2022 By: /s/ Thomas F. Smegal
Name: Thomas F. Smegal
Title: Vice President, Chief Financial Officer & Treasurer

Exhibit 99.1

July 27, 2022

For immediate release

CALIFORNIA WATER SERVICE GROUP BOARD OF DIRECTORS DECLARES

310TH CONSECUTIVE QUARTERLY DIVIDEND

SAN JOSE, Calif. – At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 310^th^consecutive quarterly dividend in the amount of $0.25 per common share. It will be payable on August 19, 2022 to stockholders of record on August 8, 2022.

California Water Service Group earnings results will be released at 9:00 am ET on July 28, 2022 with its conference call to follow at 11:00 a.m. ET. Due to a change in outside vendor, Cal Water is providing updated dial-in information for the conference call below.

All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and keying in ID# 1318225, or you may access the live audio webcast at https://ir.calwatergroup.com/calendar/upcoming-events. Please join at least 15 minutes in advance to ensure a timely connection to the call.

California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and now Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2 million people in California, Hawaii, New Mexico, Texas, and Washington. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

This news release contains forward-lookingstatements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("Act"). Theforward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor"treatment established by the Act. Forward-looking statements are based on currently available information, expectations, estimates,assumptions and projections, and management's judgment about the Company, the water utility industry and general economicconditions. Such words as would, expects, intends, plans, believes, may, estimates, assumes, anticipates, projects, progress,predicts, hopes, targets, forecasts or variations of such words or similar expressions are intended to identify forward-lookingstatements. Forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes incircumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause aresult different than expected or anticipated include, but are not limited to: the impact of the ongoing COVID-19 pandemic andrelated public health measures; our ability to invest or apply the proceeds from the issuance of common stock in an accretivemanner; governmental and regulatory commissions' decisions, including decisions on proper disposition of property; consequences ofeminent domain actions relating to our water systems; changes in regulatory commissions' policies and procedures, such as theCPUC’s decision in 2020 to preclude companies from proposing fully decoupled WRAMs in their next GRC filing (which impactedour 2021 GRC filing related to our operations commencing in 2023); the outcome and timeliness of regulatory commissions' actionsconcerning rate relief and other matters, including with respect to our 2021 GRC filing and our Cost of Capital filing; increasedrisk of inverse condemnation losses as a result of climate change and drought; our ability to renew leases to operate water systemsowned by others on beneficial terms; changes in California State Water Resources Control Board water quality standards; changes inenvironmental compliance and water quality requirements; electric power interruptions, especially as a result of Public Safety PowerShutoff (PSPS) programs ; housing and customer growth; the impact of opposition to rate increases; our ability to recover costs;availability of water supplies; issues with the implementation, maintenance or security of our information technology systems; civildisturbances or terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats;the ability of our enterprise risk management processes to identify or address risks adequately; labor relations matters as wenegotiate with the unions; changes in customer water use patterns and the effects of conservation; our ability to complete, in atimely manner or at all, successfully integrate and achieve anticipated benefits from announced acquisitions; the impact of weather,climate change, natural disasters, and actual or threatened public health emergencies, including disease outbreaks, on ouroperations, water quality, water availability, water sales and operating results and the adequacy of our emergency preparedness;restrictive covenants in or changes to the credit ratings on our current or future debt that could increase our financing costs oraffect our ability to borrow, make payments on debt or pay dividends; risks associated with expanding our business and operationsgeographically; stagnating or worsening business and economic conditions, including inflationary pressures, general economicslowdown or a recession, increasing interest rates, and changes in monetary policy; and other risks and unforeseen events. Whenconsidering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as theAnnual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). TheCompany assumes no obligation to provide public updates of forward-looking statements

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Contact

Tom Smegal

408-367-8200 (analysts)

Shannon Dean

408-367-8243 (media)